View more on these topics

IMF cuts global growth forecast

The International Monetary Fund has cut its global growth forecast for 2012 from 4 per cent to 3.3 per cent due to the escalating debt crisis in the eurozone.

According to The Telegraph, which has seen a leaked draft of its 2012 forecast, the IMF revised its forecast because of “growing tensions in the euro area”.

The report states the UK’s economy will grow by 0.6 per cent next year and will rebound to 2 per cent next year.

Italy’s economy will contract by 2.2 per cent over the next year and Spain’s economy will drop by 1.7 per cent. The eurozone as a whole will shrink by 0.5 per cent, a fall from the 1.1 per cent growth the IMF predicted in September.

The IMF has also encouraged the European Central Bank to continue moving to a“more accommodative monetary policy” to prevent a credit squeeze.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm